January 17, 2023 01:37 GMT
MNI: PBOC Net Injects CNY504 Billion via OMOs Tuesday
The People's Bank of China (PBOC) on Tuesday conducted CNY205 billion via 7-day reverse repos and CNY301 billion via 14-day reverse repos with the rates unchanged at 2.00% and 2.15%, respectively. The operation has led to a net injection of CNY504 billion after offsetting the maturity of CNY2 billion reverse repos today, according to Wind Information.
- The operation aims to hedge the impact of tax paying and cash injection peak to keep banking system liquidity stable before Chinese New Year, the PBOC said on its website.
- The 7-day weighted average interbank repo rate for depository institutions (DR007) fell to 2.1650% at 9:36 am local time from the close of 2.1849% on Monday.
- The CFETS-NEX money-market sentiment index closed at 59 on Monday, compared with the close of 57 on Friday.